Aperam S.a. · EURONEXT:APAM
Aperam — Shareholder Meeting (May 2013)
7 slides from Aperam's shareholder meeting presentation, May 8, 2013
Slide 1: Explanatory Presentation: Management Committee Performance Share Unit Plan
Explanatory Presentation Management Committee Performance Share Unit Plan submitted to shareholder approval General Meeting May 8th, 2013 © Aperam 1
Slide 2: Agenda
Management Committee Performance Share Unit Plan Agenda Background Page 03 Key highlights Page 04 Criteria review Page 05 Peer group determination Page 06 Fictive example Page 07 © Aperam 2
Slide 3: Background
Management Committee Performance Share Unit Plan Background The Management Committee Performance Share Unit Plan The Management Committee Performance Share Unit Plan (the “MC PSU Plan”) is designed to enhance the long-term performance of the Company and align the members of our Management Committee
Slide 4: Key highlights
Management Committee Performance Share Unit Plan Key highlights • Only PSUs for Management Committee Members based on clear and identifiable performance criteria • Criteria: Total Shareholder Return (“TSR”) & Earnings Per Share (“EPS”) • Grant based on value: (share price at the date of issue) – CEO
Slide 5: Criteria review
Management Committee Performance Share Unit Plan Criteria review Two sets of performance criteria must be met for vesting of the PSUs 50% of the criteria is based on Total Shareholder Return (“TSR”) compared to a peer group: • Share price end of period – Share price start of period + Dividends paid
Slide 6: Peer group determination
Management Committee Performance Share Unit Plan Peer group determination Industry Consolidation Environment Considering the consolidation taking place in the European stainless steel industry between Outokumpu and Inoxum and the divestments imposed by the European Commission in this context, the Re
Slide 7: Fictive example
Management Committee Performance Share Unit Plan Fictive example Management Committee Member: • Base salary: USD 250,000 • Grant December 2012: Share price USD 15.67 Æ Value = 35% i.e. (250,000/15.67) x 0.35 = 5,584 PSUs Æ Vesting will only occur if the MC member is still employed by the Group as fo